Bailard Inc. Increases Position in SITE Centers Corp. (NYSE:SITC)

Bailard Inc. increased its stake in SITE Centers Corp. (NYSE:SITC) by 9.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 54,000 shares of the company’s stock after acquiring an additional 4,500 shares during the quarter. Bailard Inc.’s holdings in SITE Centers were worth $736,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC acquired a new stake in SITE Centers in the 4th quarter valued at about $30,000. Lindbrook Capital LLC grew its stake in SITE Centers by 30.4% in the 4th quarter. Lindbrook Capital LLC now owns 5,219 shares of the company’s stock valued at $71,000 after acquiring an additional 1,218 shares during the last quarter. Evergreen Capital Management LLC grew its stake in SITE Centers by 6.9% in the 3rd quarter. Evergreen Capital Management LLC now owns 12,770 shares of the company’s stock valued at $159,000 after acquiring an additional 828 shares during the last quarter. Cornerstone Investment Partners LLC acquired a new stake in SITE Centers in the 4th quarter valued at about $159,000. Finally, Park Avenue Securities LLC acquired a new stake in SITE Centers in the 3rd quarter valued at about $180,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

SITE Centers Price Performance

SITC opened at $13.47 on Friday. The company’s 50 day simple moving average is $13.97 and its 200 day simple moving average is $13.46. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.24 and a current ratio of 3.24. SITE Centers Corp. has a 1 year low of $10.88 and a 1 year high of $14.71. The stock has a market capitalization of $2.82 billion, a PE ratio of 11.13 and a beta of 1.58.

SITE Centers (NYSE:SITC) last released its earnings results on Tuesday, February 13th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.66. SITE Centers had a net margin of 49.25% and a return on equity of 14.00%. The business had revenue of $123.20 million for the quarter, compared to analysts’ expectations of $127.81 million. During the same period last year, the company earned $0.29 earnings per share. The company’s quarterly revenue was down 9.7% on a year-over-year basis. As a group, sell-side analysts expect that SITE Centers Corp. will post 0.9 EPS for the current year.

SITE Centers Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Thursday, March 14th were given a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.52 annualized dividend and a dividend yield of 3.86%. SITE Centers’s dividend payout ratio is presently 42.98%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SITC. Wolfe Research cut shares of SITE Centers from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 5th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $15.50 price target on shares of SITE Centers in a research note on Monday, April 1st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, SITE Centers has an average rating of “Hold” and a consensus price target of $14.25.

SITE Centers Profile

SITE Centers is an owner and manager of open-air shopping centers located in suburban, high household income communities. The Company is a self-administered and self-managed REIT operating as a fully integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol SITC.